Take a look at the below list of Top 10 Richest European Countries in 2016 and 2017. Europe is a continent comprised the westernmost part of Eurasia. Europe is the second smallest continent by land in the world, covering 2% earth`s surface and 6.8% of the land surface. Europe is also considered as the birthplace of western civilization. Europe comprises of 50 countries and is the third most populous continent in the world. The largest and the smallest both the countries are part of Europe.
Most countries of Europe are civilized and developed countries, having standard lifestyles and a pretty economy. Some of the richest country of Europe counts in the world`s richest countries as well. The richness of a country is the measure of its Per Capita Income (PCI), which reflects the economy and net income of that country. Among Europe`s countries following are the top 10 richest countries:
List of the Top 10 Richest European Countries in 2016
Belgium, officially named as Kingdom of Belgium is a sovereign state in Western Europe. It is a small country with a population of 11 million. The source of income of Belgium is industrialization while it has no natural resources. A less income comes from agriculture sector. Belgium has PCI of $37,995 which makes it 10th richest country in Europe.
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Germany, officially named as the Federal Republic of Germany is a West-Central European country and has 16 constituent states. Germany is famous for its production of different materials like machinery, chemicals and vehicles for these productions Germany has a high export of products. Germany has PCI of $38,695 which makes it 9th richest country in Europe.
Iceland, officially named as the Republic of Iceland is a Nordic island country between the North Atlantic and Arctic Ocean. Iceland is a volcanic and geologically active country. It has a market economy with relatively low taxes compared to other economical countries. Thus, Iceland provides better opportunities for the investors to invest. It has PCI of $39,082 which makes it 8th richest country in Europe.
Ireland, officially named as the Republic of Island is an island in the North Atlantic. The tech industry of Ireland is the most famous in the world which is the major source of income. While it also has an economical industry as well. Ireland has a tremendous GDP of $185 billion also which is the main reason of prosperity of it. Ireland has PCI of $40,443 which makes it 7th richest country in Europe.
Sweden, officially named as the Republic of Sweden is a Scandinavian country in Northern Europe. Sweden has a high-tech industry, which is the major source of income and the increment in GDP. It had a high standard of living in the 20th century. Sweden has a tertiary economy and it also provides services. Sweden has PCI of $41,129 which makes it 6th richest country in Europe.
The Netherlands is the main constituent country of the Kingdom of the Netherlands. It is a small country with a population of 16 million people. The source of income of the Netherlands varies from petroleum refining, food processing and chemicals. The Netherlands has PCI of $42,319 which makes it 5th richest country in Europe.
Austria, officially named as the Republic of Austria is a federal republic and landlocked country in Central Europe. Austria is the most modern and developed country of Europe. The labor force is well skilled. The service and agriculture sector of Austria is one of the most developed an advance sector. It has a high standard of living for citizens. It has PCI of $42,589 which makes it 4th richest country in Europe.
Switzerland, officially named as the Swiss Confederation is a federal republic in Europe. Switzerland is also known as the home of the some of the world`s biggest banks. It has the lowest corporate tax rate as compared to other countries. Swiss has well developed and highly efficient financial sector, which is the main source of income. Swiss has PCI of $44,015 which makes it 3rd richest country in Europe.
Norway, officially named as the Kingdom of Norway is sovereign and monarchy unitary state. Norway has rich natural resources, including oil in North Sea, forests an minerals. The major portion of income is covered by oil export as Norway is the 10th largest exporter of oil. Other sources include hydroelectric power, fisheries and shipping which give a tremendous amount of net GDP. Norway has PCI of $54,479 which makes it 2nd richest country in Europe in 2016 and 2017.
Luxembourg, officially named as the Grand Duchy of Luxembourg is a landlocked country in Europe. Luxembourg is also known as Green Heart of Europe as it is the green most countries in Europe. It also counts in the richest country of the world. It is a developed country with an advanced economy in the world. It has PCI of $79,649 which makes it the richest country in Europe.
These countries along with standard and development also provide better service which is the key factor in their success. The life standard of a common in these countries is high an is of quality makes a happy place to live.